Tweetminer opens up all their stats (income, server, users)
tweetminer.net
tweetminer.net
If you keep everything private then you have something to hide, better yet you have something to manipulate. Perhaps you want to go public or attract investors with your projections not your reality.
In appropriate cases this type of sharing can bring your users into your business in ways no other tactic can. Devout users want to see you succeed and this gives them that barometer.
All in all, I applaud them (assuming making it public was intentional.) Not only does it help me benchmark my business but it helps me connect with Tweetminer in a way I otherwise wouldn't.
business is dying, less and less signups every day and their premium membership is next to zero
hardly numbers, you'd want to shout from the rooftop
Also 3% conversion rate is hardly a bad one and about 1% higher than most people could hope to expect.
I don't see this stats page mentioned on their front page nor their blog's first page.
I don't think it'll work as well, since they have a different business model.
1) It provides an automatic hook to make people pay attention to you. This is the Purple Cow factor -- its so different than what people expect that it is remarkable in and of itself. I am convinced that a lot of the reason people read my blog in the early days, prior to me having any reputation for saying worthwhile things or writing in an engaging manner, was that "real public sales numbers" were as rare as hen's teeth in the industry.
The kind of people paying attention to your are typically folks in your industry, who are very connected, have blogs and Twitter accounts, link to things they find interesting, do I have to paint you a picture?
2) It costs you nothing. What is the worst that can happen, somebody tries to Xerox your business and outcompete you by being you-er than you are?
3) You know how pg advises people to have a co-founder so they won't feel all alone in the world in the long, long slog that is running a business? Many of us cofounderless wretches have an intense urge coming from the monkey portion of our brains to show off what we've been doing (and I don't mean that in the pejorative sense). What is the point of spending 12 hours over a hot interpreter to solve a one-line bug if you can't lament about it to your buddies? Similarly, when you get the sense of elation at e.g. having two whole customers in one day, you want to share that with somebody, too. Preferably, somebody who understands -- and nobody understands these things better than your peers. (Friends, family, priests, and romantic interests are wonderful things to have in your life, but there is a distinct limit to their tolerance for "Guess what? Guess what? I got X uniques today due to my ongoing SEO efforts!")
TweetMiner did that in 98 days. That's VERY rare for a web startup, especially for a part time project in a space that everyone says is not monetizeable.
Sometimes it's not about the amount of revenue - it's more about what the business proves. After that it's just a question of scaling and not f*ing up...
a) Did you start selling paid accounts from day 1. Or was there a paid beta period? How many of your paid beta users converted?
b) For payments I see you use PayPal. Can you point to some resources to get the subscription based system with PayPal up and running?
About 500 beta testers signed up. Very few converted because I gave them all a free pass for one year.
Here's the paypal links I used to get things up and running...
https://www.paypal.com/en_US/ebook/subscriptions/html.html https://www.paypal.com/en_US/ebook/subscriptions/Appx-ipn_su... https://cms.paypal.com/us/cgi-bin/?cmd=_render-content&c...
Please feel free not to answer any of the questions if you think it is personal. I totally understand.
As I say it wasn't intended - but it's a nice side note.